Remember that the market does not have to conform to any expectation. I'm not sure what you mean by "250" but the market can do anything, anytime, however it wants. Do not attach an expectation to any single event because the market does not have to obey. Sometimes a normally meaningless event/report can create moves that we don't expect.The sooner you establish that mind-set the sooner you will accept whatever happens.
Stop being so angry because right now you are your own worst enemy
dont get too emtional on a loss and take revenge on the market.
Whoa. Hold UP! You mean I can't use this nice Army-surplus bazooka I just got?
Originally Posted by xblaster
I think this is just a scam! Someone is monitoring my activities. I am not paranoid, I just think that each time I invest, the market goes to the opposite direction although all indicators says it go to the direction I choose...it did not happened to only one but all of it! ****! This is a market that can be manipulted.
Of COURSE! There are billions upon billions of dollars in the FX, but the market is being manipulated specifically against you. Just because they're all out to get you doesn't mean you aren't paranoid, y'now.
EUR/GBP touched the .6860 price area three times aand was unable to break it, meaning there were more traders willing to sell than buy around there. Once the sellers took over the buyers, the pair just dropped. When the UK CPI came out this morning better than expected this lead to speculation that the Bank of England may raise rates this year. On that speculation, traders bought more British Pounds and sold more Euros.
The Yen has been tricky lately. Traders around the world can't decide whether or not they want to be risk averse or increase their risk appetite. What I mean by this is that because Japan has the lowest interest rates at 0.5% in the industrialized world, traders around the world borrow money from Japan (or sell the Japanese Yen) and invest in riskier assets (i.e. higher yielding currencies, bonds, loans, equities). After the big drop in China's equity markets in Feb, the global markets have been on a see-saw ride between reducing risk (buying Yen to pay back loans and sell off riskier investments) and increasing risk (returning to carry trade, buying equities).
We are seeing risk return to the appetites of traders little by little, and I think the selloff in USD/JPY is temporary. I think it will probably drop down to about 116.50 - 116.75 before traders sell off the Yen again.
I've in the fx last 2 weeks. On my first 5 days, I tend to earn a lot because everytime I place an order, the market tends to flactuate +/- 4 on the first 30 mins so I close it once it reaches +4 pips. After the 5 days, I recieved an email from my broker that I had too many open orders that took only less 30 mins to close and told me they normally do not allow this to happen so they suspend me for 1 - 7 days. After that 1 day they have lift the suspension, I started to invest and this time, everytime I place an order and goes into the market, the market would suddenly fluctuate +/- 1 then it moves to the opposite direction and never look back...some I leave for a few days then it get to the level where I am in profit of 4-5 pips and I close it and after closing it, the market would jump sky high to my direction...and then beginning yesterday...everything gets worse...no more fluctuation and the market would certainly move to the opposite direction. whew! what a scam! it is being manipulated.
There are many strategies for trading the news either just before or just after a news release, or a little later when the market has set off on a new course. But it can be extremely dangerous! From my experience it is easy to quickly make 90+ pips in a few seconds but even easier to lose that much.
The problem is with that level of volatility, you don't know how much you could lose UNLESS YOU USE A GUARANTEED STOP LOSS or take a LIMITED RISK TRADE.
This option will add two or three pips to the brokers' spread, so it costs you money BUT IT COULD SAVE YOUR ACCOUNT.
The Forex in itself isn't even a single entity. There are certainly brokers who have been accused of scamming their clients, but to call the Forex itself a scam shows a profound lack of understanding. What criteria did you use in choosing your broker? How long did you demo trade before you decided to risk real cash on this?
I would agree to that firmly... I am a strong believer of standing in front of your money/business... Its just like someone "I spending $10,000 on a coaching program that is supposed to make me a millionaire by the end of the year" but all they do is tell you to take action. The hardest part is getting over that initial push and then it is all gravy from there.
I also recommend checking out ForexAIM I hear it is going to be a good one...
Last edited by illuminary; 03-20-2007 at 11:24 AM.
Ok all of my investment is buy blah/blah all them are losing 75 pips each. And the market is on a steady direction...so I decided to take advantage of that direction so I invest some more short blah/blah. And then the market will now shift direction...until it will sty for quite sometime at the point where all of my investments loses 30-40 pips each...amazing! scam isnt it?